POST UTME BSU 2023 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
Under the Consumer Protection Act, what is the primary purpose of the Consumer Protection Council?
A. To regulate consumer behavior
B. To protect consumers from unfair business practices
C. To promote consumer awareness and education
D. To provide consumer redress and compensation
Question 2
A consumer purchases a product with a price of ₦5,000. If the product is subject to a 10% discount, and the consumer pays with a credit card that charges a 5% interest rate, what is the total amount paid by the consumer?
A. ₦5,250
B. ₦5,500
C. ₦5,750
D. ₦6,000
Question 3
A bus company operates on a route with a total distance of 120 km. The bus travels at an average speed of 60 km/h. What is the time taken to complete the journey?
A. 1 hour
B. 2 hours
C. 3 hours
D. 4 hours
Question 4
A company exports 80% of its production to foreign countries. If the company produces 10,000 units, how many units are exported?
A. 8,000
B. 9,000
C. 10,000
D. 11,000
Question 5
A sole trader's business is not registered with the Corporate Affairs Commission (CAC). Which of the following is a consequence of this?
A. The sole trader is not entitled to limited liability.
B. The sole trader is not required to file annual returns.
C. The sole trader's business is not eligible for tax deductions.
D. The sole trader's business is not subject to regulatory oversight.
Question 6
A consumer's indifference curve is given by U = 2X + 3Y, where U is the utility and X and Y are the quantities consumed. If the consumer's budget constraint is given by P1X + P2Y = I, where P1 and P2 are the prices of two goods, X and Y are the quantities consumed, and I is the consumer's income, what is the consumer's optimal bundle?
A. X = 10, Y = 5
B. X = 5, Y = 10
C. X = 15, Y = 3
D. X = 3, Y = 15
Question 7
A firm has a production cost of ₦50 per unit and a selling price of ₦75 per unit. If the firm produces 10,000 units, what is the profit?
A. ₦250,000
B. ₦300,000
C. ₦350,000
D. ₦400,000
Question 8
A consumer purchases a product for ₦10,000. The product is covered by a warranty that lasts for 2 years. If the product fails within the warranty period, the consumer is entitled to a refund of ₦5,000. What is the expected value of the warranty?
A. ₦2,500
B. ₦5,000
C. ₦7,500
D. ₦10,000
Question 9
A company has a warehouse with a capacity of 10,000 units. The company receives an order for 8,000 units. What is the maximum number of pallets that can be used to fulfill the order?
A. 1,000
B. 1,500
C. 2,000
D. 2,500
Question 10
A bank offers a loan of ₦500,000 at an interest rate of 15% per annum. If the loan is repaid in 5 years, what is the total amount paid by the borrower?
A. ₦625,000
B. ₦675,000
C. ₦725,000
D. ₦775,000
Question 11
A consumer's budget constraint is given by P1X + P2Y = I, where P1 and P2 are the prices of two goods, X and Y are the quantities consumed, and I is the consumer's income. If the consumer's income is ₦1000, and the prices of the two goods are ₦5 and ₦10 respectively, what is the consumer's budget line?
A. 5X + 10Y = 1000
B. 10X + 5Y = 1000
C. 5X + 10Y = 500
D. 10X + 5Y = 500
Question 12
A firm's demand function is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm's marginal revenue function is MR = 200 - 2Q, what is the firm's optimal price?
A. ₦20
B. ₦30
C. ₦40
D. ₦50
Question 13
A company's sole trader has a warehouse with a capacity of 10,000 units. The company's sales manager has forecasted a 20% increase in sales for the next quarter. If the current stock level is 8,000 units, what is the minimum number of units the company needs to order to meet the forecasted demand?
A. 6,000
B. 8,000
C. 10,000
D. 12,000
Question 14
A company has a warehouse with a capacity of 10,000 units. The company receives an order for 8,000 units. If the warehouse is currently 70% full, what is the new percentage of the warehouse that is full after fulfilling the order?
A. 50%
B. 60%
C. 70%
D. 80%
Question 15
A sole trader's business is registered under the Companies and Allied Matters Act (CAMA) 2020. Which of the following is a requirement for registration?
A. Obtain a Tax Identification Number (TIN)
B. Register with the Corporate Affairs Commission (CAC)
C. Obtain a Business Name Certificate
D. Obtain a Patent for the Business Name

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